Natural Gas Technical Analysis

NATURAL GAS closed higher due to short covering on Tuesday and the midrange close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews the decline off May's high, April's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.